Arthur Hayes, the founding father of the BitMEX crypto buying and selling platform, just lately expressed a pessimistic view of Solana. He conveyed this sentiment after promoting his SOL holdings to accumulate extra Ethereum.
Curiously, Hayes attributed his bearish outlook to a divine message he obtained whereas meditating.
Ethereum Value Might Attain $5,000
Hayes cited Solana’s affiliation with Sam Bankman-Fried, the convicted founding father of FTX, as an element supporting his destructive stance on SOL. He believes such shut ties might imply hassle for Solana sooner or later, which inspired him to promote his holdings.
“I obtained a message from the Lord whereas meditating. He stated dump that Sam coin POS, and profess your love for Archangel Vitalik. So I dumped SOL, and bot extra ETH,” Hayes said.
Following his choice to promote all his SOL tokens, Hayes predicted a possible Ethereum worth surge. Hayes estimates ETH might enter a brand new bull run towards $5,000.
Learn extra: Solana vs. Ethereum: An Final Comparability
Though Hayes didn’t specify a timeline for this prediction, reaching such a worth would mark a brand new all-time excessive for Ethereum. Certainly, it means ETH would surpass the $4,864.11 peak recorded through the 2021 bull market.
Within the Meantime, SOL Outperforms ETH
Hayes’ bearish view is shocking, contemplating Solana’s worth efficiency and the general progress of its ecosystem. Throughout the previous yr, SOL’s worth has gained an astonishing 875% in comparison with that of ETH, which is up by simply 87%.
Likewise, Solana’s decentralized finance (DeFi) ecosystem has witnessed a resurgence, indicating the sturdy adoption it’s having fun with.
For context, on-chain information from DefilLama exhibits that the buying and selling quantity of decentralized exchanges on the Solana community flipped that of Ethereum through the previous day. It noticed over $2 billion price of trades, whereas these on Ethereum solely noticed $1.45 billion.
Asset administration agency VanEck predicts Solana will ascent to a high three blockchain in market capitalization, complete worth locked (TVL), and lively customers within the coming yr. The projections additionally anticipate varied asset managers to launch a Solana ETF (exchange-traded fund).
Moreover, Solana has established important partnerships with outstanding conventional world monetary establishments. Reviews from BeInCrypto spotlight collaborations with business giants equivalent to Visa and Shopify, who leverage Solana’s expertise to expedite their cost processes.
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